No. 26 Waterloo Court, Washington, Tyne And Wear, NE37 3DX

Description

A tenanted one-bedroom flat situated within Waterloo Court, Washington. The property is described as an income-producing residential asset and is located within an established residential setting.

Accommodation

Entrance hallway, living room, kitchen, bedroom and bathroom

Location

Located within easy reach of Washington town centre and a range of local shops, amenities, schools and transport links, with convenient road connections to Sunderland, Newcastle upon Tyne and surrounding areas.

Tenure / Property Information

Investment Analysis

Same-block completed sales range from £15,000 to £39,000: three sales were £15,000, with later/higher sales at £30,000 and £39,000. The evidence shows substantial dispersion and does not provide the subject flat's condition, lease terms, service charge, tenancy terms or exact comparability. A simple average of the five supplied sales is £22,800, used as the base GDV, with £15,000 low and £39,000 high scenarios. The £3,600 administration charge is included in cost analysis; the buyer premium and other legal-pack charges are not quantified.

Investment Snapshot

Strategy Recommendation

Potential income-led hold only after verifying the passing rent, tenancy, lease, service charge and all legal-pack charges. Do not rely on the headline yield or pursue a flip without condition and cost evidence.

Works Required

No specific refurbishment works are supported by the supplied evidence. Confirm condition, compliance, lease terms, service charge position and tenancy documentation before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £22,800 base GDV and £20,600 of guide price plus known administration cost, indicative refinance at 75% of GDV is £17,100, leaving approximately £3,500 of unrecovered cost before finance, tax, works and unquantified fees. The result is highly sensitive to the wide comparable range and requires confirmation of the legal pack, tenancy, lease and lender valuation.

Buy-to-Let Analysis

The supplied one-bedroom rental evidence is £525–£600 pcm asking rent, not achieved rent; the midpoint implies £6,750 annual rent. This equates to approximately 37.06%–42.35% gross yield on the £17,000 guide and 30.58%–34.95% on the guide plus the known £3,600 administration charge. These figures exclude finance, service charge, ground rent, insurance, management, maintenance, voids, tax and unknown auction/legal charges. Existing tenancy terms and passing rent are not supplied, so actual income cannot be verified.

Flip Analysis

A base resale value of £22,800 is supported only by a simple average of the five supplied same-block sales. Against the £17,000 guide and £3,600 known administration charge, the remaining gross margin is £2,200 before refurbishment, selling costs, finance, tax and other auction charges. No supported flip surplus can be calculated because no selling allowance or refurbishment budget is provided.

Investor Risks & Due Diligence

• Wide same-block comparable range from £15,000 to £39,000 creates substantial valuation uncertainty.

• The stated occupancy is tenanted, but passing rent, tenancy terms, arrears, deposit and possession position are not supplied.

• Tenure is stated as subject to the legal pack, so lease length, ground rent and service charge are unknown.

• The £3,600 administration charge is known, but buyer premium and other Special Conditions charges are unquantified.

• Rental figures are advertised asking rents rather than achieved or passing rents.

• No condition, refurbishment or compliance information is supplied.

• Finance, tax, maintenance, management, voids and selling costs are excluded from the headline calculations.

Recommendation

Potential income-led hold only after verifying the passing rent, tenancy, lease, service charge and all legal-pack charges. Do not rely on the headline yield or pursue a flip without condition and cost evidence.

Strategy Rating

Analysis Confidence

There are five completed same-block sales and three advertised rental indications, but condition, lease details, tenancy income, service charges, EPC, buyer premium and other auction costs are unavailable.